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Dec 24, 2012
12/12
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at the center of it all, greece. the country grappled with a need for bailouts with strings attached in the form of severe budget cuts that sparked protests from the people. however, the financial crisis in europe is providing an opportunity for china. earlier this year, we heard from new york times reporter liz alderman on a chinese shipping company that is making waves in greece. > > how successful has this shipping company, known as cosco, been so far in greece? > > it's an interesting story. this chinese basically state- run shipping company came in here about three years ago in a $500 million deal that ever since then has been a model for the country, because what they did is they bought half of piraeus port, which is an ancient port in greece and one of the most important ports in the southern mediterranean. what they did was they basically took an operation that had been effectively lagging under greek ownership and completely turned it around. > > have the the greek people been welcoming of this? the chinese
at the center of it all, greece. the country grappled with a need for bailouts with strings attached in the form of severe budget cuts that sparked protests from the people. however, the financial crisis in europe is providing an opportunity for china. earlier this year, we heard from new york times reporter liz alderman on a chinese shipping company that is making waves in greece. > > how successful has this shipping company, known as cosco, been so far in greece? > > it's an...
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Dec 27, 2012
12/12
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CSPAN
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similarly in greece. so, you had executives coming to greece, bribing politicians. the greek government -- they did not listen. then 2008. the conservative prime minister, he is not a stupid man. he was a terrible prime minister, but he is not a stupid man. you know what he did? he bailed out. he has not spoken since. he affectively called for a general election. he did not contest it. it was much worse than obama's first debate. he appeared before them and was like "don't vote for me." he lost that election. he did not have to call for that election. he called for it to lose it, to stay at home. he has not spoken since. he is having a nice holiday. and then there was papandreou. i was an advisor up until 2006. so i am not to blame. who unfortunately, he did not see the crisis of the eurozone collapsing. the eurozone had no foundation. there was an earthquake. it starts unraveling with greece. and let's say between 1995 2008 god and his angels descended on an athens and ran the show. with rationality, omniscience, ethos, and morality. greece would not have been the
similarly in greece. so, you had executives coming to greece, bribing politicians. the greek government -- they did not listen. then 2008. the conservative prime minister, he is not a stupid man. he was a terrible prime minister, but he is not a stupid man. you know what he did? he bailed out. he has not spoken since. he affectively called for a general election. he did not contest it. it was much worse than obama's first debate. he appeared before them and was like "don't vote for...
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Dec 29, 2012
12/12
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KCSM
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greece and spain were the worst hit. >> eventually, it was the european central bank's controversial bond-buying program that manage to come down the markets -- calm down the markets. >> germany's finance minister says he thinks the worst is behind us. is he right? >> the wildfires in 2012 were the worst spain had experienced in years, but it was not the only disaster the country had to deal with. the financial sector was also in flames. right from the beginning of the year, it was clear that the eurozone had a tough time ahead. credit rating agencies handed out significant downgrades to spain and portugal in particular. europe's firefighting coalition of finance ministers hoped a fiscal pact with tight budgetary controls and national debt breaks would need future crises in the bud, but some economists were more realistic. >> the fiscal pact was basically superfluous. we already knew that all the countries were trying to cut back. weather or not they continue making cuts in 2018, which is what the fiscal pact promise, is of little interest to the markets. >> agrees also posed a chall
greece and spain were the worst hit. >> eventually, it was the european central bank's controversial bond-buying program that manage to come down the markets -- calm down the markets. >> germany's finance minister says he thinks the worst is behind us. is he right? >> the wildfires in 2012 were the worst spain had experienced in years, but it was not the only disaster the country had to deal with. the financial sector was also in flames. right from the beginning of the year,...
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but in the long run it's a healthier economy that doesn't go down the path of greece. if the long run greece would have low unemployment, but they do not, but yes, we're going to go a percent, if it happen the worse case scenario, but in five years we won't be notble to borrow money. >> brenda: julian, you can go ahead and respd. >> first of all, the ernst & young study has been debunked over and over. and number two, the bush tax cuts,f you let the bush tax cuts. the crs study was a republican study and found the same thing as the cbo. if you letush tax cuts expire on everybody, yes, you would have negative economic impact. the two staetudies done recentl shows the top two rates, top 2%, virtually no impact. to jonas' point if you raise taxes a the lot and cut spending a lot and so austerity plan, that would have an impact. democrats were fopouring more money into the compl with stimulus and republicans wanted austerity and jonas' point is an argument against what conservatives were pushing for. >> brenda: all right. toby. >> what's the question? >> driving a smart ca
but in the long run it's a healthier economy that doesn't go down the path of greece. if the long run greece would have low unemployment, but they do not, but yes, we're going to go a percent, if it happen the worse case scenario, but in five years we won't be notble to borrow money. >> brenda: julian, you can go ahead and respd. >> first of all, the ernst & young study has been debunked over and over. and number two, the bush tax cuts,f you let the bush tax cuts. the crs study...
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Dec 16, 2012
12/12
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CSPAN2
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greece and spain and so forth, could borrow at german interest rates and they went kind of wild. the good old united states of america, we rent historically big deficits. we consumed without settling them. how is this all possible? because the chinese were happily loaning us money at very low interest rates. substitute the words the united states and greece, and china to germany and you have a world scale, the problem in the united states. the problem in the whole world. but let me just, following those comments, you know, you've got a single moment. [inaudible] decided to they want more unity or less. because the euro cannot survive unless they have more sense of some kind of central control. more sense of discipline before the crisis. which means some kind of limits on fiscal policy, but one thing, but it goes on fiscal policy. spain had a pretty good fiscal policy. they kept borrowing money to build houses. so we've got to have some kind of oversight of economic policy as part of the price of being in the union. they wanted -- [inaudible] monetary union without the economic un
greece and spain and so forth, could borrow at german interest rates and they went kind of wild. the good old united states of america, we rent historically big deficits. we consumed without settling them. how is this all possible? because the chinese were happily loaning us money at very low interest rates. substitute the words the united states and greece, and china to germany and you have a world scale, the problem in the united states. the problem in the whole world. but let me just,...
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Dec 24, 2012
12/12
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CSPAN
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in greece, a permanent bailout. the thing is, whereas markets are an easing institutions for allocating existing goods and services among consumers, they are chronically bad at creating a surplus between deficit regions. remember -- if that comes first, suddenly the money lender who later becomes a banker who later becomes wall street plays a hugely significant role in this process. the banker is the conduct of that -- conduit of that recycling mechanism. when they get an increase in proportion as the result of their mediation of that process. the banker is the same thing as a clothes maker. suddenly, there are two things that must have been. 1 -- society will demand that banks are not allowed to go to the wall. then bankers are affectively blanche, free money for themselves. and the whole mechanism breaks down in 2008. in the eurozone, we made a huge error in europe of binding together these economies. this is not the first time these things that happened. it happened in the united states of america. you have dispa
in greece, a permanent bailout. the thing is, whereas markets are an easing institutions for allocating existing goods and services among consumers, they are chronically bad at creating a surplus between deficit regions. remember -- if that comes first, suddenly the money lender who later becomes a banker who later becomes wall street plays a hugely significant role in this process. the banker is the conduct of that -- conduit of that recycling mechanism. when they get an increase in proportion...
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Dec 31, 2012
12/12
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CSPAN2
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i want to turn around the spending problem we have that will prevent us from becoming greece, and if you will lead, i will follow, and yes, i will raise more revenue in a responsible way, but without you, it's going to be hard for us to get there. so the next time we meet is going to be around the debt ceiling, and the image i want is not a bunch of people behind the president who are clapping for him, but members of congress, republicans and democrats behind the president clapping for the president because he signed a bill that will save all of us from a certain fate. and our fate is being sealed as i talk unless we make changes. we cannot survive on the course we're taking today. the good news is with some bipartisanship and presidential leadership, we still have time to turn around this country and actually dominate the 21st century. it's going to take some pain, it's going to take some sacrifice, but one final story. when i was 21, my mom died. when i was 22, my dad died 15 months later. we were in -- my family owned a liquor store, a restaurant and a pool room, and everybody i k
i want to turn around the spending problem we have that will prevent us from becoming greece, and if you will lead, i will follow, and yes, i will raise more revenue in a responsible way, but without you, it's going to be hard for us to get there. so the next time we meet is going to be around the debt ceiling, and the image i want is not a bunch of people behind the president who are clapping for him, but members of congress, republicans and democrats behind the president clapping for the...
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Dec 21, 2012
12/12
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CNBC
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what does greece have? they have a lot longer fuse than a time bomb. >> still a telling comparison quarterback nevertheless. coming up on "worldwide exchange," don't go anywhere. in an exclusive interview, jean-claude trichet tells stephane pedrazzi why markets need to be more upbeat. >>> take a look at samsung shares. they are down. sherry, what's going on? >> hi, kelly. investors were worried about news that eu regulators are getting ready to accuse samsung electronics of breaking competition rules when it filed its patent lawsuits against rival apple. now, the commission is saying samsung should have tried to license its patents on fair, reasonable and nondiscriminatory terms before launching any sales claims against apple and this may explain why apple dropped those claims earlier this week. now, the eu's probe has been underweight since january. many analysts say the eu's move had been spented. samsung's withdraw came on the heels of a california judge's refusal to block sales of dozens of samsung's mo
what does greece have? they have a lot longer fuse than a time bomb. >> still a telling comparison quarterback nevertheless. coming up on "worldwide exchange," don't go anywhere. in an exclusive interview, jean-claude trichet tells stephane pedrazzi why markets need to be more upbeat. >>> take a look at samsung shares. they are down. sherry, what's going on? >> hi, kelly. investors were worried about news that eu regulators are getting ready to accuse samsung...
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Dec 7, 2012
12/12
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WUSA
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and 34 years after john travolta and olivia newton john starred in "greece" they release add new video for their song called "i think you might like it." that's your eye on entertainment. tesa
and 34 years after john travolta and olivia newton john starred in "greece" they release add new video for their song called "i think you might like it." that's your eye on entertainment. tesa
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Dec 9, 2012
12/12
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WMAR
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, greece has been very adept at increasing their debt ceiling. now they have 25% unemployment. there are people who can't even finds jobs in cities are having to move out according to press reports to rural areas. that could be our future. as tom said, if you gave the president every job forming tax increase that he's asked for, it's about 3% of the spending. and the president himself has said that the drivers of our debt are medicare, medicaid and health care. nothing else comes close. >> congresswoman stabenow pointed out -- >> you have to deal with the structural reforms to our entitlement spending. protecting current seniors but helping to insure my 10-year-old daughter and 9-year-old son that these programs are around for them. >> medicare savings, lot of republicans not you but a lot of republicans in the last campaign including mitt romney ran against. >> well, george, first of all, the $700 billion in savings doesn't save the government a penny, it takes that and spends it on other people. what -- it's really important that people look. t
, greece has been very adept at increasing their debt ceiling. now they have 25% unemployment. there are people who can't even finds jobs in cities are having to move out according to press reports to rural areas. that could be our future. as tom said, if you gave the president every job forming tax increase that he's asked for, it's about 3% of the spending. and the president himself has said that the drivers of our debt are medicare, medicaid and health care. nothing else comes close....
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Dec 21, 2012
12/12
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CSPAN
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we are heading down the same path that greece did. right now the democrats are talking about raising taxes on the top 2%. if we do not stop the spending, we will be back here again maybe one year from now saying, maybe we need to raise taxes on the top 25% or 50%. then everybody will be taxed and we will run out of money. what is going to happen is the federal government is not going to be able to take care of its obligations. you are not going to be able to have safety nets. social security and medicare are going broke. we have to fix those of those who are dependent on those systems can get them. continuing to spend money like both parties have been doing the, wild spending is going to lead us to be just like greece. we are not going to be able to take care of the poor or the needy or take care of senior citizens. we have to stop spending. host: this is fiscal year 2010, but it has not changed significantly in terms of percentage. 41% of the federal budget. not defense appropriations 19%. defense spending 20%. the national debt 6%.
we are heading down the same path that greece did. right now the democrats are talking about raising taxes on the top 2%. if we do not stop the spending, we will be back here again maybe one year from now saying, maybe we need to raise taxes on the top 25% or 50%. then everybody will be taxed and we will run out of money. what is going to happen is the federal government is not going to be able to take care of its obligations. you are not going to be able to have safety nets. social security...
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Dec 18, 2012
12/12
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WJZ
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. >>> good news for greece. raised the credit rating by 6 notches. other european union countries are committed to keeping greece. >>> instagram says it has a right to sell your photos. expressing outrage on twitter and sites. instagram claims the right to sell photos to advertisers without payment or notification. there's no way to opt out unless you close your account by january 16th. that's your money watch. cbs money watch.com. >> coming up at 4:00, toyota troubles the multi million dollar fine levied by the government. >>> the strongest northwest storm of the season roars into washington state. the mess it left behind. >> no leavy coats needed outside. right now mild and sunny. but tells us that's going to to change. always on for your top stories on wjz.com. and first warning weather click wjz.com. ,,,,,,,,,,,,,,,, >>> i'm paula from maryland, happy holidays, wjz. >> happy holidays to paula. >> happy holidays paula and everybody out there. >> it's a nice day. >>> it really is . there's an event going on that exact place on sunday. we're going t
. >>> good news for greece. raised the credit rating by 6 notches. other european union countries are committed to keeping greece. >>> instagram says it has a right to sell your photos. expressing outrage on twitter and sites. instagram claims the right to sell photos to advertisers without payment or notification. there's no way to opt out unless you close your account by january 16th. that's your money watch. cbs money watch.com. >> coming up at 4:00, toyota troubles...
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Dec 3, 2012
12/12
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CNBC
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i think greece is probably too small to view. i think what really bothers me is spain which i think clearly bothers the whole market. the question, a growth going to fall off a cliff or whether it muddle through and a bailout will be sufficient. as you say, we don't know the answer to that question. that remains the tail risk. until we do get close to a resolution, i'm not going to turn massively bullish. >> what's your view on that? >> i think i go along very much with what he's saying. >> what is your view on what happens to spanish growth? >> i think spain has a lot of problems at the moment. it's not seeing a lot in the domestic market. not seeing it move toward an export. in which case spanish growth is going to be very, very weak for some time to come. >> all right. good to see you. thanks very much. alan will stick around. time to bring you today's global markets report. let's go to asia for the update. >> that upbeat pmi data failed to lift greater china markets. there is pessimism over general lack of policy and also fea
i think greece is probably too small to view. i think what really bothers me is spain which i think clearly bothers the whole market. the question, a growth going to fall off a cliff or whether it muddle through and a bailout will be sufficient. as you say, we don't know the answer to that question. that remains the tail risk. until we do get close to a resolution, i'm not going to turn massively bullish. >> what's your view on that? >> i think i go along very much with what he's...
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Dec 1, 2012
12/12
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FOXNEWSW
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it is important that we fix the over spending that is going to turn us into greece and spain. you talk about it all the time, it is so important we do that. even if we don't get rean elected it is so important -- reelected it is so important we do that we need all the leverage we got. >> sean: we are on our way to 20 trillion in debt. this is beyond fiscal cliff, this is a fiscal dive into i don't want to think where it can take us. >> some would say, if the dollar were not the international currency, we would have already been greece. >> sean: i brought up some ideas at the tkpweuplg of the program. i said okay, why don't we go for 200 billion in discretionary cuts to start, yes to entitlement reform, you agree? yes to serious tax reform? >> do i ever. when the president says fair share the perfect answer, flat tax. he has not made one pro bowsal that will have warren buffett paying the same as his secretary. it is called capital gains 15%. income tax is 15%. you make more, you pay more. you make less, you pay less. everybody pays their fair share. >> sean: same with value ad
it is important that we fix the over spending that is going to turn us into greece and spain. you talk about it all the time, it is so important we do that. even if we don't get rean elected it is so important -- reelected it is so important we do that we need all the leverage we got. >> sean: we are on our way to 20 trillion in debt. this is beyond fiscal cliff, this is a fiscal dive into i don't want to think where it can take us. >> some would say, if the dollar were not the...
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Dec 31, 2012
12/12
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WRC
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this is a live look at athens, greece -- >> as the clock struck midnight or 6:00 a.m. eastern time, fireworks erupted over auckland. >>> and to new york, the big apple always nose how to do it up right. folks are already picking out that spot to watch the ball drop. 1 million people are expected to cram the streets. >>> a more family-friendly way, you can head over to alexandria's first night celebration. darcy spencer is live in alexandria, where they're getting ready for a big night. good evening, darcy. >> angie, i think they did not have fireworks last year. do you remember that? >> i do. >> reporter: there were problems because of fire safety, so fireworks went away for a few years. they are back this year, but they are going to be on the potomac. i'm expecting a lot of people, because they are expecting back. also something new this year. these food trucks, first time they're having these, right along cameron street. very popular here. people are already lining up to get their food off the food trucks. >>> just a few minutes ago, people inside, buying their badge
this is a live look at athens, greece -- >> as the clock struck midnight or 6:00 a.m. eastern time, fireworks erupted over auckland. >>> and to new york, the big apple always nose how to do it up right. folks are already picking out that spot to watch the ball drop. 1 million people are expected to cram the streets. >>> a more family-friendly way, you can head over to alexandria's first night celebration. darcy spencer is live in alexandria, where they're getting ready...
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1.2K
Dec 28, 2012
12/12
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KRCB
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paul left and went to western turkey, or asia minor, and greece. for the next ten years, from 50 to roughly 60, paul will concentrate all of his efforts in this region of the aegean basin. it's probably ephesus and the areas immediately around ephesus that will be his most important base of operations. ephesus was a cosmopolitan environment. the inscriptions and the statues and the artwork and the buildings all tell us that this is really a crossroads of culture and religious life throughout the mediterranean world. >> when you read jesus' parables, you immediately think of agriculture, you think of peasants, you think of landowners, you think of farming. when you read paul's letters, you think of the school, you think the philopher, you think of the orator, you think of the city. >> in paul's view, at least, the city was the natural environment, if you will, for christianity. he has a way of coming back to the same city, he has a way of visiting new cities and talking about visiting new cities, and it was cities that he was going to, not just gene
paul left and went to western turkey, or asia minor, and greece. for the next ten years, from 50 to roughly 60, paul will concentrate all of his efforts in this region of the aegean basin. it's probably ephesus and the areas immediately around ephesus that will be his most important base of operations. ephesus was a cosmopolitan environment. the inscriptions and the statues and the artwork and the buildings all tell us that this is really a crossroads of culture and religious life throughout...
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Dec 27, 2012
12/12
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CNBC
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it will remind me of greece. greece is getting bailed out. and going on back and forth. will there be a deal by december 31st? i don't think so, but if a deal gets penned out by mid-january, we can look forward to focusing on earnings and get this fiscal cliff over with so we can see what's going on important in the world, and that's earnings. >> let me -- can i comment on that? >> yeah, sure. >> i want to comment on rick santelli's optimistic view that maybe there really is a deal in the offing. he has a point, you know. it's not over, you know, until it's over and these guys do sometimes come up with last-minute deals, but i want to be very clear. in order for that to happen john boehner basically has to agree that he's going to get a deal out of house with majority democrat votes, and i don't see why he does that before january 3rd. >> you're assuming the president has all the leverage, and i think the president would have a horrible legacy starting out with such turmoil, so i disagree. i think there's movement on the white house side on entitlements. >> rick, you do
it will remind me of greece. greece is getting bailed out. and going on back and forth. will there be a deal by december 31st? i don't think so, but if a deal gets penned out by mid-january, we can look forward to focusing on earnings and get this fiscal cliff over with so we can see what's going on important in the world, and that's earnings. >> let me -- can i comment on that? >> yeah, sure. >> i want to comment on rick santelli's optimistic view that maybe there really is a...
WHUT (Howard University Television)
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105
Dec 19, 2012
12/12
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WHUT
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eye 105
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i thigh it is hyperbole to say that the united states is going to become greece but it is not hyperbole to compare us to japan and wonder if we get stuck in this slow growth quagmire. europe might be even more in danger of that. >> rose: okay. let's stop right there. do you think that we are at risk of getting stuck in the slow growth quagmire that japan got stuck in, the united states economy? >> well, i would say we are in a mild version of it now, and, you know, we need to do improvements and reforms. i don't think spending money is the solution. there are smart ways to spend it for sure, but i don't buy this idea that bigger keynesian stimulus will solve our problems, these fundamental problems with demographics, with slowing innovation, and other things we are experiencing. i think we need more fundamental reform and my colleagues like paul krugman will say, you know, i hear that all the time but i really want to see -- i want to see stimulus now, and i think we have been doing this for a long time, we are doing it at seven percent of gdp at the moment, and i think it is sensible t
i thigh it is hyperbole to say that the united states is going to become greece but it is not hyperbole to compare us to japan and wonder if we get stuck in this slow growth quagmire. europe might be even more in danger of that. >> rose: okay. let's stop right there. do you think that we are at risk of getting stuck in the slow growth quagmire that japan got stuck in, the united states economy? >> well, i would say we are in a mild version of it now, and, you know, we need to do...
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the euro zone in particular as economic downturn we've seen violent demonstrations in countries like greece where we're seeing clashes with police and also strikes across the country also in spain and as well elsewhere across the union now these on what we have seen though is these aren't just students so activists that are being demonstrating against the cuts that have been implemented upon them but people from all across society as not just the people have started to show that they're dissatisfied with the way things are going the politicians have already started the finger pointing of just who is to blame silvio berlusconi in italy saying that well he's going to run against to be the leader of the country and he's pointed a finger squarely towards germany where i am right now saying that it's up to berlin to recognize the european central bank as a real central bank in his words otherwise well countries like italy are going to have to pull out of the euro zone in fact well there are those here in germany that would say that it's germany that has to pull out of the year or so if this is g
the euro zone in particular as economic downturn we've seen violent demonstrations in countries like greece where we're seeing clashes with police and also strikes across the country also in spain and as well elsewhere across the union now these on what we have seen though is these aren't just students so activists that are being demonstrating against the cuts that have been implemented upon them but people from all across society as not just the people have started to show that they're...
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will go directly from the black sea to bulgaria and on to greece italy and austria the project was dreamed up under the idea the more the merrier in other words the more product lines the more secure the delivery to customers will be now it's a need that arose after transit countries ukraine in particular disrupted deliveries on the number of occasions in the past fifty percent of the pipeline will be owned by russian allergy giant gazprom the rest of it with its leave france and germany however may need a euro question whether this project is if it needed critics say that a whopping twenty billion dollars cost for a pipeline is way too much especially in current times of economic recession but it seems these fears are not enough to stop a project like this was the big question will be hoping beyond the choppy waters the face of our own the very seat they will be going directly under. they just being a battle for resources as well with the two regional powerhouse as china and india meeting at the will feel to feed their growing hunger but as a nation squabble over who gets the biggest slic
will go directly from the black sea to bulgaria and on to greece italy and austria the project was dreamed up under the idea the more the merrier in other words the more product lines the more secure the delivery to customers will be now it's a need that arose after transit countries ukraine in particular disrupted deliveries on the number of occasions in the past fifty percent of the pipeline will be owned by russian allergy giant gazprom the rest of it with its leave france and germany...
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110
Dec 27, 2012
12/12
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CSPAN
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becoming like greece? >> no, that is a profoundly -- do you see as becoming like greece? >> that is a profoundly different situation. the congressional budget office says that if we stay on the course we are on, we will have a debt that is 230% of our gross domestic product of the the next 20 years. most experts say once you get a debt of more than 9% of gross domestic product, that inhibit future economic growth in a significant way. this is just about -- not just about numbers on page, it is really about opportunities for people. whether you will be able to send your kid to school, to college, whether it will be able to buy a car, my house, whether we will have economic opportunity for the people of the country. the best academic research that has been done shows that if a country's debt gets too large in relationship to the size of its economy, the economy does not grow as fast. opportunity is lost. jobs are lost. so there is a similarity with what is happening in europe and what could happen here if we don't get our house in order. >> you talked about a single- minded
becoming like greece? >> no, that is a profoundly -- do you see as becoming like greece? >> that is a profoundly different situation. the congressional budget office says that if we stay on the course we are on, we will have a debt that is 230% of our gross domestic product of the the next 20 years. most experts say once you get a debt of more than 9% of gross domestic product, that inhibit future economic growth in a significant way. this is just about -- not just about numbers on...
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Dec 19, 2012
12/12
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WETA
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paul left and went to western turkey, or asia minor, and greece. for the next ten years, from 50 to roughly 60, paul will concentrate all of his efforts in this region of the aegean basin. he it's probably ephesus and the areas immediately around ephesus that will be his most important base of operations. ephesus was a cosmopolitan environment. the inscriptions and the statues and the artwork and the buildings all tell us that this is really a crossroads of culture and religious life throughout the mediterranean world. >> when you read jesus' parables, you immediately think of agriculture, you think of peasants, you think of landowners, you think of farming. when you read paul's letters, you think of the school, you think of the philosopher, you think of the orator, you think of the cit >> in paul's view, at least, the city was the natural environment, if you will, for christianity. he has a way of coming back to the same city, he has a way of visiting new cities and talking about visiting new cities, and it was cities that he was going to, not jus
paul left and went to western turkey, or asia minor, and greece. for the next ten years, from 50 to roughly 60, paul will concentrate all of his efforts in this region of the aegean basin. he it's probably ephesus and the areas immediately around ephesus that will be his most important base of operations. ephesus was a cosmopolitan environment. the inscriptions and the statues and the artwork and the buildings all tell us that this is really a crossroads of culture and religious life throughout...
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Dec 26, 2012
12/12
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we do have an advantage that greece does not have. we print the world's money. we cannot expect the dollar will be keen to tomorrow. -- forever. if the europeans can manage their deficit and we cannot, the world will switch to euros. there is a tweet here -- guest: the cbo is supposed to be a political, but it cannot be too alarmist. if we go over the cliff, we are looking on january 1, some of this is already milton. about $600 million -- $650 billion in spending cuts and tax increases. that is about 4% of gdp. that is an enormous negative stimulus. a detraction from demand. that would surely be a deep recession. the cbo relies on simulation models that did not take into consideration investor sentiment, the reaction of consumers, and so forth that they wholly lose confidence in their government. if we go over the cliff and stay there, people will start to conclude that washington cannot manage its affairs. all bets are off on economic modeling. it is impossible to say what happened that other than it would be very negative. host: one piece that you actually di
we do have an advantage that greece does not have. we print the world's money. we cannot expect the dollar will be keen to tomorrow. -- forever. if the europeans can manage their deficit and we cannot, the world will switch to euros. there is a tweet here -- guest: the cbo is supposed to be a political, but it cannot be too alarmist. if we go over the cliff, we are looking on january 1, some of this is already milton. about $600 million -- $650 billion in spending cuts and tax increases. that...
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Dec 31, 2012
12/12
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i want to turn around the spending problem we have that will prevent us from becoming greece, and if you will lead, i will follow, and yes, i will raise more revenue in a responsible way, but without you, it's going to be hard for us to get there. so the next time we meet is going to be around the debt ceiling, and the image i want is not a bunch of people behind the president who are clapping for him, but members of congress, republicans and democrats behind the president clapping for the president because he signed a bill that will save all of us from a certain fate. and our fate is being sealed as i talk unless we make changes. we cannot survive on the course we're taking today. the good news is with some bipartisanship and presidential leadership, we still have time to turn around this country and actually dominate the 21st century. it's going to take some pain, it's going to take some sacrifice, but one final story. when i was 21, my mom died. when i was 22, my dad died 15 months later. we were in -- my family owned a liquor store, a restaurant and a pool room, and everybody i k
i want to turn around the spending problem we have that will prevent us from becoming greece, and if you will lead, i will follow, and yes, i will raise more revenue in a responsible way, but without you, it's going to be hard for us to get there. so the next time we meet is going to be around the debt ceiling, and the image i want is not a bunch of people behind the president who are clapping for him, but members of congress, republicans and democrats behind the president clapping for the...
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Dec 27, 2012
12/12
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like we are doing in greece. in greece, we've had the most brutal, a substantial fiscal squeeze and in the history of humanity. if you look at the numbers, and nowhere before as the budget -- has the budget been squashed so savagely. and what happened to the debt? 129% to 200% of gdp. it is what happens. when you kill the cow that produces the milk, it will not produce more milk and if you keep hitting it, it will not produce more. the problem with the economy is, we need to start recycling global surpluses again in a rational way. the great advantage of having no qualms about lying through your teeth as politicians in this country and in my country have been known to do -- the story that i have been trying to tell is quite complicated. you can use simplification in order to confuse people. when in being interviewed by the media, you have about 20 seconds. you have to answer the question of what is wrong with the world. if you say, well, we have too much debt. we will become the slaves of the chinese like these a
like we are doing in greece. in greece, we've had the most brutal, a substantial fiscal squeeze and in the history of humanity. if you look at the numbers, and nowhere before as the budget -- has the budget been squashed so savagely. and what happened to the debt? 129% to 200% of gdp. it is what happens. when you kill the cow that produces the milk, it will not produce more milk and if you keep hitting it, it will not produce more. the problem with the economy is, we need to start recycling...
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Dec 8, 2012
12/12
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so if, in fact, we got to greece bike, 12% of let's say 12%, on $16 trillion, that's $2 trillion a year. where is that going to come from? so it's over. so default is coming. so either we're going to -- do we default or to we keep our obligations and make the hard choices? and what the federal reserve has set up is to in template our way out of it, growing our way out of it. and taxing our way out of it rather than trimming the size of our government. >> host: to go back to "the debt bomb," senator chambliss at dinner, center channels has come out and said -- speaker boehner has spoken about a grand plan. how are those two guys doing? have a talk about them about those two things? >> guest: i think they're flabbergasted right now with the administration. when you get beat an election you come back as the unwilling, uncle, here's $800 billion, here's what you wanted. then you have the throne, politically it may work politically. it's past time for politics in the country. we are really in trouble. and do we have problems that we can solve? yes. is every problem in front of us solvable? i
so if, in fact, we got to greece bike, 12% of let's say 12%, on $16 trillion, that's $2 trillion a year. where is that going to come from? so it's over. so default is coming. so either we're going to -- do we default or to we keep our obligations and make the hard choices? and what the federal reserve has set up is to in template our way out of it, growing our way out of it. and taxing our way out of it rather than trimming the size of our government. >> host: to go back to "the debt...
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Dec 1, 2012
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. >> put us on a very slippery slope towards the plight of greece and spain and others who basically don't have that check. this whole notion of unlimited credit card is just pure poppycock and it's something that only can be dreamed of as a fiscally responsible thing in washington, d.c. >> but, you know, you still have a process and procedure in terms of the budget where the president proposes a budget and congress is playing a much more significant role in that process. when the time at which the idea of, you know, approving the debt ceiling was when congress was playing less of a role in the budget process. congress is far more engaged in that process. so, i don't think this is about going the way of greece or spain as much as it is, you know, people like to hold on to as much power as long as they think they can. >> karen -- >> ken, take a listen to what tom cole said earlier this week on taxes. take a listen to this. >> in my view we all agree that we are not going to raise taxes on people who make less than $250,000. we should take them out of this discussion right now. >> did
. >> put us on a very slippery slope towards the plight of greece and spain and others who basically don't have that check. this whole notion of unlimited credit card is just pure poppycock and it's something that only can be dreamed of as a fiscally responsible thing in washington, d.c. >> but, you know, you still have a process and procedure in terms of the budget where the president proposes a budget and congress is playing a much more significant role in that process. when the...
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Dec 30, 2012
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we'll go the way of greece, and the president hasn't moved off that. he's still playing politics with these issues, and frankly i think most of us now don't care who gets the blame. we're concerned about our economy and about our paychecks. >> richard, senate minority leader mitch mcconnell took to the senate floor this afternoon and said despite the setback all is not loss. >> there's no situation that remains an impossible sticking point. the sticking point appears to be a willingness and interest or frankly the courage to close the deal. i want everyone to know i'm willing to get this done. but i need a dance partner. >> you know, so richard, here we are talking about this blame game, and everybody is pointing their fingers at one another as we've been hearing all afternoon. what do you think that republicans are looking for here? >> i heard the same "meet the press" interview that terry did. i didn't hear the president casting blame. what i heard was the president talking the ways in which he's gone more than halfway to the republicans' position on
we'll go the way of greece, and the president hasn't moved off that. he's still playing politics with these issues, and frankly i think most of us now don't care who gets the blame. we're concerned about our economy and about our paychecks. >> richard, senate minority leader mitch mcconnell took to the senate floor this afternoon and said despite the setback all is not loss. >> there's no situation that remains an impossible sticking point. the sticking point appears to be a...
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Dec 28, 2012
12/12
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>> and there's this incredible chance that greece will leave and the dominos will begin to fall. i think that's unluikely to happen as long as the ecb is willing to support that currency, but will it thrive? will those economies boom? i don't think so, i think it will be another year of recession and you will find individual opportunities and the stock picker's market and far as it's a strong growth, they're not there yet. >> thanks so much for joining us. good to see you tonight. >> you heard piers morgan talk about it with larry last week. after school shooting massacre in scotland in 1996 great britain banned virtually all handguns, seized them from people who already owned them. piers says it worked great, except it didn't. you're about to find out just how badly it's turned out and why we in america should pay attention. people really love snapshot from progressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to
>> and there's this incredible chance that greece will leave and the dominos will begin to fall. i think that's unluikely to happen as long as the ecb is willing to support that currency, but will it thrive? will those economies boom? i don't think so, i think it will be another year of recession and you will find individual opportunities and the stock picker's market and far as it's a strong growth, they're not there yet. >> thanks so much for joining us. good to see you tonight....
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Dec 11, 2012
12/12
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though, are we seeing signs of stress again with the concerns about leadership in italy, and problems in greece, and should we pay attention to that than the fiscal cliff discussions? >> well, you know, right now, doesn't seem like the market is paying attention to that right now. it reminds me a lot of september, before the election, when the s&p's rallied. everything was con taped. we were worried about central bank, liquidity, numbers okayed here, heating up in china. people thought europe was contained, and it feels that way now. people looking past the headlines whether it's the fiscal cliff or europe. i mean, there's a lot of doom day sayers out there, and it makes sense, but it seems like everything right now is contained, and the trade is up to the upside. david: right. liz mentioned the fed decision coming up, should be hearing about it tomorrow. what's the market expecting from the fed? in what way will they be excited or disappointed? >> well, i think the market, if you look at the options market, the flows into the ten year treasuries, it's implying 85 billion per month. the reason
though, are we seeing signs of stress again with the concerns about leadership in italy, and problems in greece, and should we pay attention to that than the fiscal cliff discussions? >> well, you know, right now, doesn't seem like the market is paying attention to that right now. it reminds me a lot of september, before the election, when the s&p's rallied. everything was con taped. we were worried about central bank, liquidity, numbers okayed here, heating up in china. people...
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Dec 13, 2012
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i think you were serving in greece. the last time we had one of these major reports, which was on the 1998 bombings. this report has been done by two senior experienced people, tom pickering and admiral mike mullen, and my indications are that it is really going to be very tough on the state department. hillary clinton has to defend this and present it to congress. >> well, andrea, i don't have a preliminary indication of what the report was saying, but i think secretary clinton would drae grae to testify publicly, but there are obviously congress has an obligation i think they have chosen to highly objective non-political, non-partisan people in tom pickering, ambassador tom pickering, and admiral mike mullen, and we'll see what the report says, but clearly the administration does need to deal with these issues before we get to 2013 and the president's inauguration. >> and one of the questions that is being examined is all of the warnings and the incident -- there were five separate incidents that preceded the fatal at
i think you were serving in greece. the last time we had one of these major reports, which was on the 1998 bombings. this report has been done by two senior experienced people, tom pickering and admiral mike mullen, and my indications are that it is really going to be very tough on the state department. hillary clinton has to defend this and present it to congress. >> well, andrea, i don't have a preliminary indication of what the report was saying, but i think secretary clinton would...
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Dec 13, 2012
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greece. oh, really? greece is not growing. greece has lost 25% in its economy in the past five years. greece's economy shrunk by 7% this year alone. there's a 20% unemployment rate in greece and even higher for younger people. greece doesn't make anything that the rest of the world wants. the american economy is dynamic. the american economy always needs to be improving with education, scientific research and infrastructure investment. so, a rational system, a rational political system would respond much differently than what is going on here in this congress. we're talking about spending cuts and allowing tax cuts that haven't produced economic growth to be extended. all of the people that are talking about spending did all the spending. they are the debt and deficit creators. if we want to experience economic growth we have to invest in this economy. and it's critically important to the future of this nation. medical research. we need to enhance not cut funding to the national institutes of
greece. oh, really? greece is not growing. greece has lost 25% in its economy in the past five years. greece's economy shrunk by 7% this year alone. there's a 20% unemployment rate in greece and even higher for younger people. greece doesn't make anything that the rest of the world wants. the american economy is dynamic. the american economy always needs to be improving with education, scientific research and infrastructure investment. so, a rational system, a rational political system would...
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Dec 16, 2012
12/12
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and he wrote that the great empires, asyria, persian, greece, the roman, the arab empires, the ottoman empires, spain, russia, britain, each flourished for around 250 years, and this seems to be the space allotted for imperial he generalny. too long a period of power leads to decadence, so the empire goes from the pioneers to the innovators, to the bureaucrats, from exploration on exploitation to decadence, the quest for world approval, the welfare state and squabbles over inherited wealth. and a notable feature, he writes, of the declining nations is the loss of physical energy. he suggests, as does the bible, that the state of a human organism is no different than the family. both recapitulate human individual tendencies, and like the individual human, evolve in predictable directions. the human might, indeed can, live to be 120 years, but no longer, and will decay through predict blg stages as will the family, however well ty -- and the state, however powerful. and now we see we in america are at the outword end of sir john gloves' 250 years, and we see the signs. we have passed thr
and he wrote that the great empires, asyria, persian, greece, the roman, the arab empires, the ottoman empires, spain, russia, britain, each flourished for around 250 years, and this seems to be the space allotted for imperial he generalny. too long a period of power leads to decadence, so the empire goes from the pioneers to the innovators, to the bureaucrats, from exploration on exploitation to decadence, the quest for world approval, the welfare state and squabbles over inherited wealth. and...
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Dec 6, 2012
12/12
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to greece. i've got to tell you, that's not really the fairest of comparisons. for the record, the headline in the post was, the rest of the world thinks the fiscal cliff is ridiculous. i think a lot of people here would agree with that headline. >> it's interesting -- i heard a report about it calling it slow, too, that it would take effect gradually. let's just get it done. >>> bright but brisk today and cold again tonight. >> will it get milder? a big football game for this region coming up this weekend. howard will have the answer when we return. two big football games in fact. your weather coming up after this gorgeous shot of the sunrise. keep it here. >>> welcome back to 9news. monika here with your timesaver traffic. you'll want to listen up for sure if you're headed to the beltway north of town in bethesda. i'll explain what's been going on since 2:00 this morning. on the outer loop you're looking at a truck that had overturned just past the exit for northbound i-270. maryland state police tell me he admitted he was going too fast and lost control and o
to greece. i've got to tell you, that's not really the fairest of comparisons. for the record, the headline in the post was, the rest of the world thinks the fiscal cliff is ridiculous. i think a lot of people here would agree with that headline. >> it's interesting -- i heard a report about it calling it slow, too, that it would take effect gradually. let's just get it done. >>> bright but brisk today and cold again tonight. >> will it get milder? a big football game for...
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Dec 4, 2012
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says if you are going to do this thing, it is more important to make all the fiscal cuts them back as greece and spain know, when people do not trust your debt, weak issue too much debt. if everyone heads to the door like china and other is, our debt is really going to go up. host: should the raising of the debt ceiling be tied to these overall conversations or is that too dangerous? you talk about people shied away from your debt. caller: yes. you are going to have a tipping point that people are blind to. since 1847 with popular delusions and the madness of crowds when you get a contagion in there, you do not know what is going to be. people are going to run for the door. it is just stupid. they should have done the tax cuts first and then see if they need to raise taxes. the more sound policy is to cut some savings first to even see if we have to raise taxes. host: here is the statement put out by the white house yesterday. it actually promises to lower rates for the wealthy and sticks the middle class with the bell. bill. susan in pennsylvania, a democratic caller. welcome to the convers
says if you are going to do this thing, it is more important to make all the fiscal cuts them back as greece and spain know, when people do not trust your debt, weak issue too much debt. if everyone heads to the door like china and other is, our debt is really going to go up. host: should the raising of the debt ceiling be tied to these overall conversations or is that too dangerous? you talk about people shied away from your debt. caller: yes. you are going to have a tipping point that people...
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Dec 24, 2012
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and in greece, it was an utter disaster. so, i would love to follow hovering behind him, churchill as he goes from meeting to meeting. and then when he sells his generals on the viability of going to norway or thinking about it, he says no. we will go to some mantra. he gave them fits -- we will go to sumatra. he gave them fits. >> so, you tell all kinds of stories in your. to cover the dunkirk story. what year was dunkirk. where was he in that process? >> the evacuation? >> yes. >> that would be the last week of may, the first few days of june in the 1940's. the french had been defeated essentially in brittany. the french expeditionary force, 100,000 men strong, half of them were stalled of the san -- south of the sienne. the other have spearheaded against the germans, and in short order the french collapsed against belgium. they did it over a week -- at first, they thought they would get 10,000 or 12,000 men out. then anything that could float was sent over there. the got more than 200,000 british troops out. i found it in
and in greece, it was an utter disaster. so, i would love to follow hovering behind him, churchill as he goes from meeting to meeting. and then when he sells his generals on the viability of going to norway or thinking about it, he says no. we will go to some mantra. he gave them fits -- we will go to sumatra. he gave them fits. >> so, you tell all kinds of stories in your. to cover the dunkirk story. what year was dunkirk. where was he in that process? >> the evacuation? >>...